Vanadium developer Prophecy searches for new CEO
Date: Feb 21, 2019
The developer of what could be the first primary vanadium producing mine in the US is searching for a new CEO, after Gerald Panneton resigned last week.
he developer of what could be the first primary vanadium producing mine in the US is searching for a new CEO, after Gerald Panneton resigned last week.
Chairperson and former CEO John Lee, who has been appointed to serve as interim president and CEO, said on Tuesday that the TSX-listed company remained passionate about the Gibellini project.
The Gibellini mine, in the Battle Mountain region of Nevada, is forecast to cost $116.76-million to build and will produce 9.65-million pounds of vanadium pentoxide (V2O5), according to a June 2018 preliminary economic assessment (PEA). The PEA estimated an operating cost of $4.77/lb of V2O5, while the price of vanadium is currently trading at $18.40/lb.
